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3 Best Stocks to Buy Now, 10/26/2023, According to Top Analysts

3 years ago
Which stocks are best to buy now? According to Top Wall Street Analysts, the three stocks listed below are Strong Buys. Each stock received a new Buy rating recently and has a significant upside as well. To find more stocks like these, take a look at TipRanks’  Analyst Top Stocks tool. It shows you a real-time list of all stocks that have been recently rated by Top-ranking Analysts. Here are today’s top stock picks, according to analysts. Click on any ticker to thoroughly research the stock before you decide whether to add it to your portfolio. Canadian Pacific ( NYSE:CP)  – Canadian Pacific is a major Canadian transcontinental railway and transportation company known for its rail and intermodal transportation services. Today,  Wells Fargo analyst Allison Poliniak reiterated a Buy rating on the stock with a price target of $90. In the last three months, 11 out of the 13 Top Analysts covering the stock rated it a Buy. Collectively, their 12-month price targets imply an upside of over 24%. Microsoft ( NASDAQ:MSFT)  – Microsoft is a multinational technology company known for its software products, including the Windows operating system and its Microsoft Azure cloud computing services. Following the release of MSFT’s impressive Q1 results yesterday,  D.A. Davidson analyst Gil Luria and 12 other Top Analysts reaffirmed a Buy rating on the stock. In the last three months, 24 out of the 25 Top Analysts rated the stock a Buy. Collectively, their 12-month price targets imply an upside of nearly 20%. Dollar Tree ( NASDAQ:DLTR)  – Dollar Tree is a U.S.-based discount store chain that offers several products for one dollar or less. Yesterday,  Truist Financial analyst Scot Ciccarelli reiterated a Buy rating on the stock with a price target of $129. Interestingly, 10 out of the 11 Top Analysts who recently rated the stock gave it a Buy. Taken together, their 12-month price targets imply an upside of about 42%. Who are the Top Analysts? TipRanks ranks financial analysts according to the success rates of their ratings and the average return on each of their ratings. See real-time analyst rankings and learn more about the performance of Top Analysts on TipRanks’  Top Wall Street Analysts page. Disclosure

Guru Fundamental Report for MSFT

3 years ago
Below is Validea's guru fundamental report for MICROSOFT CORP (MSFT). Of the 22 guru strategies we follow, MSFT rates highest using our Twin Momentum Investor model based on the published strategy of Dashan Huang. This momentum model looks for a combination of fundamental moment

Microsoft Stock: AI Tailwind Sets the Scene for Further Gains

3 years ago
Tuesday saw Microsoft ( NASDAQ:MSFT) putting any doubts about Cloud growth to rest with a strong fiscal first-quarter (September quarter) report that exceeded all expectations. Specifically, the tech giant delivered revenues of $56.5 billion, amounting to a 12.8% year-over-year increase while coming in ahead of the Street’s call by $1.95 billion. At the other end of the spectrum, EPS of $2.99 comfortably beat the Street’s $2.65 estimate. Productivity and Business Processes revenue reached $18.59 billion, thereby easily trumping both the consensus estimate of $18.19 billion and Microsoft’s guided range of $18 billion to $18.30 billion. Importantly, the Intelligent Cloud segment delivered revenue of $24.26 billion, a 19% year-over-year uptick and outpacing the $23.49 billion the analysts were looking for. Tucked inside that segment, Azure revenue climbed by 29%, above the 26% expected on Wall Street. In constant currency (cc), that amounted to a 28% jump, representing an acceleration on the 27% notched in the prior quarter and ahead of the Street’s forecast of 25-26% growth. Looking ahead, Microsoft expects fiscal second-quarter revenue to hit the range between $60.4 billion to $61.4 billion, in line with analyst expectations. Investors reacted favorably to the report, driving shares up by 3% during Wednesday's trading session. Evercore's Kirk Materne attributes this response to the accelerated growth of Azure, and he anticipates that this growth trend will persist. “While the focus now shifts to the drivers behind these results, including whether or not we are past the Azure ‘bottom’ or whether there were one-time items that resulted in the beat, we believe that the narrative gets even stronger into the rest of FY24 as some optical headwinds reverse and comps soften, and Microsoft’s position in the enterprise market continues to get stronger as customers look to consolidate spending,” the 5-star analyst wrote. “As we look out into CY24, we believe that AI will be a tailwind as Microsoft starts implementing its M365 Copilot monetization strategy, as will continued traction in Azure and the integration of ATVI into Microsoft’s gaming business.” All told, Materne rates MSFT shares an Outperform (i.e., Buy) along with a $400 price target, indicating shares will post growth of 17% over the coming year. (To watch Materne’s track record, click here) Materne is certainly no outlier here. 31 other analysts join him in the bull camp, while the addition of 4 Holds can’t detract from a Strong Buy consensus rating. The $401.33 average target is almost in line with Materne’s objective and set to generate one-year returns of ~18%. (See Microsoft stock forecast ) To find good ideas for stocks trading at attractive valuations, visit TipRanks’  Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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